$520M Brickell Bay Drive deal sets Florida land record

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$520M Brickell Bay Drive deal sets Florida land record

A 4.25-acre waterfront assemblage on Brickell Bay Drive has traded for $520 million, marking the largest single land acquisition ever in Florida. The site, at 1001 and 1111 Brickell Bay Drive, offers 485 feet of uninterrupted Biscayne Bay frontage and is the last developable parcel of this scale in Brickell’s financial district.

The purchase was made by a joint venture between Oak Row Equities, OKO Group, and Mariposa Real Estate, with TYKO Capital as senior lender.

The project is expected to set a new benchmark for ultra-luxury living and ...

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Miami’s Brickell is Becoming the Place to Live and Work in South Florida

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Miami’s Brickell is Becoming the Place to Live and Work in South Florida

Miami’s Brickell neighborhood swiftly becomes South Florida’s top spot for living and working. Known as the “Manhattan of the South,” it offers luxury living, economic vibrancy, and cultural richness. Here are some of Brickell’s strengths:

Accessibility and Infrastructure: Centrally located, Brickell offers easy access to major transportation hubs, including Miami International Airport and Fort Lauderdale-Hollywood International Airport. The neighborhood is well-served by public transit options like the Metromover and Metrorail, ensuring seamless connectivity throughout Miami and beyond.

Economic Hub: As a hub for global finance and technology ...

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Foreign Real Estate Investment Dips to $5.1 Billion in 2023, Yet Market Share Remains Resilient

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Foreign Real Estate Investment Dips to $5.1 Billion in 2023, Yet Market Share Remains Resilient

Foreign buyers injected $5.1 billion into South Florida residential real estate this year, experiencing a $1.7 billion decrease from the 2022 total of $6.8 billion, as the Miami Association of Realtors reported. This dip reflects the overall cooling of markets after the pandemic-induced frenzy.

While both domestic and foreign purchases declined, international buyers maintained their South Florida market share at 18%, engaging in 6,200 home transactions. Miami-Dade accounted for 72% of the foreign buyer sales volume, totaling $3.7 billion, followed by Broward at $1.1 billion ...

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